Hamilton Lane Advisors LLC Buys Shares of 7,475 Spotify Technology S.A. (NYSE:SPOT)

Hamilton Lane Advisors LLC purchased a new stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,475 shares of the company's stock, valued at approximately $3,344,000. Spotify Technology comprises approximately 3.2% of Hamilton Lane Advisors LLC's investment portfolio, making the stock its 4th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of SPOT. CHURCHILL MANAGEMENT Corp bought a new position in Spotify Technology in the 4th quarter worth $2,311,000. Rockingstone Advisors LLC increased its position in shares of Spotify Technology by 0.5% during the fourth quarter. Rockingstone Advisors LLC now owns 8,978 shares of the company's stock valued at $4,017,000 after buying an additional 45 shares during the period. Park Avenue Securities LLC raised its stake in Spotify Technology by 45.3% in the fourth quarter. Park Avenue Securities LLC now owns 5,062 shares of the company's stock worth $2,264,000 after buying an additional 1,578 shares in the last quarter. Kathmere Capital Management LLC lifted its holdings in Spotify Technology by 75.8% in the fourth quarter. Kathmere Capital Management LLC now owns 1,023 shares of the company's stock worth $458,000 after buying an additional 441 shares during the period. Finally, Pines Wealth Management LLC bought a new stake in Spotify Technology during the 4th quarter valued at approximately $288,000. Hedge funds and other institutional investors own 84.09% of the company's stock.

Analysts Set New Price Targets

SPOT has been the subject of several research reports. Pivotal Research increased their target price on Spotify Technology from $510.00 to $565.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $340.00 price objective on shares of Spotify Technology in a report on Monday, October 7th. Benchmark restated a "buy" rating and set a $520.00 target price on shares of Spotify Technology in a report on Thursday. Morgan Stanley increased their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $441.21.

Spotify Technology Stock Performance

Shares of SPOT traded down $0.61 during mid-day trading on Thursday, hitting $490.08. 1,376,281 shares of the company traded hands, compared to its average volume of 1,632,858. The stock has a market cap of $97.55 billion, a price-to-earnings ratio of 133.17 and a beta of 1.62. The stock has a 50-day moving average price of $465.30 and a two-hundred day moving average price of $387.49. Spotify Technology S.A. has a 1 year low of $191.88 and a 1 year high of $506.47.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($0.30). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $4.03 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Spotify Technology's quarterly revenue was up 18.8% on a year-over-year basis. On average, analysts forecast that Spotify Technology S.A. will post 5.96 EPS for the current year.

Spotify Technology Profile

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.